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you & us
CNP Assurances
The lifetime
insurer | 2011
CNP Assurances group in France and internationally
Key figures
Leveraging expertise and market intimacy
In international markets, CNP Assurances shares its bancassurance and personal
insurance expertise with partners in 15 countries including Italy, Spain, Brazil and
Argentina.
In group insurance, its pension and other employee benefits products are distributed
through a large number of financial institutions, mutual insurers, local authorities
and companies.
In France, its individual insurance products are mainly distributed through La Banque
Postale and Caisses d’Epargne networks, as well as through the CNP Trésor in-house
team of insurance advisors.
CNP Assurances designs, develops and manages savings, pension and
personal risk products. For more than 150 years, it has been dedicated to helping
policyholders to protect their future and that of their families at a reasonable cost.
CNP Assurances is France’s leading personal insurer
18 Commitments and community outreach
20 A results-driven approach
OUR COMMITMENTS: BETWEEN YOU AND US,
A SUSTAINABLE RELATIONSHIP
10 A vocation underpinned by core values
12 Saving for peace of mind
14 Insuring against the unexpected
OUR SOLUTIONS: BETWEEN YOU AND US,
A LIFELONG PARTNERSHIP
2
4
5
CNP ASSURANCES GROUP
Contents
CNP ASSURANCES - THE GROUP
EDITORIAL BY
GILLES BENOIST,
CHIEF EXECUTIVE
OFFICER
Gilles
Benoist,
For CNP Assurances, being an insurer
means keeping a promise. As a personal
insurer, our business consists of protecting
policyholders over very long periods.
Chief Executive
Officer
This brochure is written and published every year
to enable readers to discover or learn more about
CNP Assurances.
to support the on-going diversification of the business
base, particularly in international markets, thereby
driving sustained growth in consolidated earnings.
For CNP Assurances, being an insurer means keeping
a promise. As a personal insurer, our business consists
of protecting policyholders over very long periods, by
helping them to set up solutions for individual and
group savings, pensions and personal risk coverage
(such as term creditor insurance, health insurance and
long-term care insurance), which add to the benefits
paid out under social welfare programmes.
For example, last year saw the launch of our partnership with Barclays in Southern Europe and the
partnership project in France with MFPrévoyance,
which is now 65%-owned by CNP Assurances.
In 2010, with growth in the life insurance market held
back by historically low interest rates, we focused on
building sales of “risk” products (particularly personal
risk and term creditor insurance) that satisfy the fundamental human need for protection.
CNP Assurances has a number of core strengths,
including deep roots in the public sector, the backing of
solid shareholders, robust corporate values, a unique
business model and a proven track record in developing partnerships. These strengths have been leveraged
Alongside our commitment to fulfilling our obligations towards policyholders, we remain obsessed with
“walking the talk” in the area of corporate social and
environmental responsibility. This was illustrated in
2010 by the advances made by our Group in the areas
of diversity and gender equality, and by the commissioning of our first Bilan Carbone® carbon footprint
audit. Every year, sustainable development practices
become ever more deeply embedded in our operations. This is one of the aspects of our performance of
which we are the proudest.
CNP Assurances – The lifetime insurer l 2011 > 1
CNP ASSURANCES - THE GROUP
CNP ASSURANCES GROUP
IN FRANCE AND INTERNATIONALLY
CNP Europe Life Ireland
CNP Italia Italy
CNP UniCredit Vita Italy
Caixa Seguros Brazil
Compañia de Seguros
- Argentina
2
CNP Vida Spain
CNP Barclays Vida
y Pensiones - Spain, Portugal, Italy
Countries served from
France under the EU freedom
of services directive
Sino-French Life Insurance China
SUBSIDIARIES* IN FRANCE
**
CNP Marfin Insurance Cyprus and Greece
* Over 50%-owned and operating in areas directly
related to the insurance business
** Subsidiary: Ecureuil Vie Développement
CNP Assurances – The lifetime insurer l 2011 > 3
CNP ASSURANCES - THE GROUP
You
Hubert
Coletti,
58 years old,
and his
grandchildren
KEY FIGURES
No. 1
OPERATIONS IN
PERSONAL INSURER IN FRANCE SINCE 1991
4,600
1,469
OVER
WORLDWIDE
EMPLOYEES
INCLUDING
SUBSIDIARIES
IN NEW MONEY IN 2010
(FRENCH GAAP)
IN INTERNATIONAL
150 years
OVER
EXPERIENCE
24 million
CUSTOMERS WORLDWIDE
4
15 countries
€33.4bn
€32.3bn
IN PREMIUM INCOME IN 2010
(IFRS)
€288bn
IN TECHNICAL RESERVES AT 31 DECEMBER
2010 (INCLUDING DEFERRED PARTICIPATION)
LEVERAGING EXPERTISE
AND MARKET INTIMACY
Both in France and
in international markets,
CNP Assurances’s strength lies
in its long-term partnerships
with distribution networks
that have a solid presence
in their market.
CNP Assurances has developed a unique business
model in France that is anchored in long-term partnership agreements with large, well-established banking
networks.
The Group designs, develops and manages life
insurance, pension and personal risk contracts, while
its partners distribute them. This combination of
insurance expertise and in-depth customer knowledge
has demonstrated its effectiveness for over 150 years,
and never more than in the recent economic and
financial crisis.
TWO MAJOR PARTNERS IN FRANCE
In France, individual insurance products are distributed
by our two traditional partners, La Banque Postale and
the Caisses d’Epargne (Groupe BPCE), which together
represent some 22,000 sales outlets. As well as partnering the Group under distribution agreements that
run until 31 December 2015, La Banque Postale and
Groupe BPCE are also shareholders of CNP Assurances
with a combined interest of 35.48% and, as such, have
a direct vested interest in the Group’s performance.
This business model is an excellent driver of product
innovation, allowing us to draw on the expertise
of the distribution networks and their skill in anticipating changes in demand to regularly refresh our
offer. Products are adapted as necessary in close
collaboration with these teams, taking into account
the specificities of their customer base in terms of
age, risk profile, income and evolving needs.
Inspired by the successful French experience, we
began exporting our bancassurance business model
a decade ago.
CAPITAL TIES AND DISTRIBUTION AGREEMENTS IN FRANCE
Groupe BPCE
La Banque Postale
49.90%
50.10%
Caisse des Dépôts
40.00%
Sopassure
35.48%
CNP Assurances
Capital ties
Distribution agreements
CNP Assurances – The lifetime insurer l 2011 > 5
CNP ASSURANCES - THE GROUP
A SHARED COMMITMENT TO QUALITY
The partners’ mutual commitments and respective
roles and responsibilities are contractually defined
in service and quality agreements. CNP Assurances is
dedicated to meeting the highest standards of management efficiency and responsiveness. Its service
level commitments are regularly tracked to continuously optimise the quality of service rendered to
the distribution networks and the insured. In 2010,
CNP Assurances and its two main partners decided
to enhance their communication structures and procedures in order to take their quality, competitive
intelligence and product innovation processes to the
next level.
THE BUSINESS MODEL
Product offer
Needs assessment
Distribution
Product design
and development
Distribution
Marketing
Contract administration
Underwriting
Life of
the contract
Sales
Financial management
Claims
handling
Fund selection
ALM
Asset management
CNP Assurances
Others
GROUP INSURANCE PARTNERSHIPS
CNP Assurances’s pension, term creditor insurance
and employee benefits contracts are sold to more than
200 financial institutions, around a hundred mutual
insurance companies, 20,000 local governments and
hospitals, 4,500 companies and numerous non-profit
organisations.
As France’s leading group insurer, we have a long
tradition of partnering the mutual insurance sector.
We support MGEN (the teachers’ mutual insurance
company) and other civil service mutuals by managing
group policies covering death/disability and long-term
care risks, pensions and term creditor insurance, and
by reinsuring their health insurance plans.
6
Leveraging our experience, we have developed an
offer for the key accounts segment of the market,
which requires mobilising considerable technical
and legal expertise to participate in the competitive
bidding process.
We also serve SMEs and micro-enterprises through
insurance brokers and the Banques Populaires and
Caisses d’Epargne networks, offering a range of
products suited to their clientele, including defined
contribution pension plans and length-of-service
award contracts. CNP Assurances is the insurer for all
of the group contracts sold by the Caisses d’Epargne
and the reinsurer (on a 60% basis) of the group
contracts sold by Banques Populaires through Natixis
Assurances.
INTERNATIONAL PARTNERSHIPS
Backed by the successful French experience, the business
model is being reproduced and localized in rapidly expanding international markets that represent new sources
of growth.
The most common approach consists of acquiring controlling interests in existing companies that have one or more
distribution networks at their disposal, generally through
the local banks. Our setup in Brazil, Italy, Cyprus, Greece and
other countries illustrates this approach.
The vitality of the distribution networks is the key to developing our business. For that reason, whenever possible we
encourage them to become shareholders of our local subsidiary, with a seat on its Board or equivalent, and also provide
them with financial incentives to build sales.
International facts
and figures for 2010
International premium income:
€6.2bn,
representing nearly 20% of the consolidated total
Gross operating profit (EBIT):
€757m,
representing 40% of the consolidated total
Up 65% on 2009, mainly led by Brazil
Unlike many of our competitors, in the ten years since we
launched our international growth strategy, we have focused
almost exclusively on bancassurance distribution channels.
This strategic focus enhances our appeal among prospective
partners, particularly in the current regulatory environment.
You
Garritano
family,
São Paulo
CNP Assurances – The lifetime insurer l 2011 > 7
Between you
and us A lifelong
partnership
You
Sylvain
Velasco,
44 years old
Architect
Us
Julien
Martin,
36 years old
Personal Risk
Manager
CNP ASSURANCES - SOLUTIONS
A VOCATION UNDERPINNED
BY CORE VALUES
CNP Assurances meets a basic human need to secure the future
in order to live life to the full.
Life is a succession of random events that challenge
our ability to respond and adapt. For over 150 years,
CNP Assurances has pursued the corporate mission of
offering everyone the means to secure their future and
that of their family against the risks of everyday life.
PROTECTING LIFE
Over the years, we have responded to this need to feel
secure about the future – so as to enjoy the present,
undertake projects and take risks – by developing a
wide range of personal risk, pension and life insurance
offers.
This mission has never been more relevant. In the
midst of the 2008 financial crisis, our policyholders
in France demonstrated their trust in CNP Assurances
and their readiness to rely on a strong, dependable,
diligently managed partner.
Their need for protection was even greater in 2010,
with the looming pensions crisis and persistently difficult economic conditions. In France, the standard
response to an uncertain environment is to save, and
indeed French consumers are the world’s biggest
rainy-day savers, with a savings rate of around 16% in
2009 and 2010.
A LEADING PLAYER
As the leading provider of personal insurance,
CNP Assurances covers more than one in three
people in France.
As such, we carry a great deal of responsibility as well
as a certain legitimacy of action. We are ideally positioned to observe and understand shifting economic
and social trends, such as longer life expectancies
and rising social vulnerabilities. Our industry ranking
and risk management experience qualify us to innovate in certain markets. This is particularly the case
in long-term care, a market in which we pioneered
many new services that go beyond the standard benefit formula to meet the daily needs of individuals
facing a loss of autonomy.
10
CNP Assurances takes an active part in major public discussions and debates concerning personal
insurance. We also play a major role in financing the
economy by supporting infrastructure projects and
the business sector.
AN EXPERT IN MANAGING RISKS
We have developed specific expertise in managing
both financial and insurance risks. This expertise
hinges on the interlocking involvement of a wide variety of professionals, including actuaries, lawyers, fund
managers, IT specialists and finance experts. Together,
we help policyholders to overcome pitfalls on the road
of life, as they face the challenges of maintaining their
standard of living after retirement, remaining in their
home if they become disabled and meeting the cost
of long-term care.
Upstream, designing a product involves identifying
risks, determining the most appropriate cover and
defining affinity groups to pool the risks. It then entails
assessing the related underwriting, administrative and
financial management costs, in order to determine
a break-even price.
The last stage in the process involves defining a premium investment strategy that offers an optimum
risk-reward trade-off so as to guarantee fulfilment of
financial commitments without knowing when they
will need to be settled.
CNP ASSURANCES’S SOCIAL VALUE-ADDED
Personal insurance contributes to an enhanced sense of well-being. Through its expertise and commitments,
CNP Assurances maximises the social value designed into every product category, from savings products
with term life cover to pensions and personal risk products with accident, death, long-term care, health, loan
and unemployment cover.
Pooling
risks to optimise
rates
Assessing
each person’s risks,
administrative and
financial management
costs and the probability
of surrender
The
Lifetime
Insurer
Guaranteeing
administrative management,
investment strategy,
reserving policy
The social value-added of CNP Assurances personal insurance contracts
Personal insurance
Our value added
Our commitments
Protecting the future of policyholders
and their loved ones with:
• Low-cost financial security in the case
of adverse life events.
• Secure financial commitments
(capital guarantees on non-unit-linked
contracts, guaranteed number of units
in unit-linked contracts, option to
surrender savings policies at any time).
• Tax optimized estate planning, with
payment to designated beneficiaries.
• Anticipating emerging social needs.
• Partnering policyholders at every
lifestage with our products and advice.
• Managing contracts that combine
effectiveness, industrial processing and
confidentiality over very long periods.
• Managing assets while securing commitments with the aim of optimizing and
smoothing annual yields over time
• Supporting long-term development of
both national economies and companies.
• Combat financial exclusion with products
tailored to every budget.
• Promote ethical practices across the
business, with regulatory compliance,
fair advice, a Code of Ethics and quality
of service.
• Guarantee commitments to the insured
and their beneficiaries throughout the
life of the contract.
• Ensure that underlying assets comply with
socially responsible investment principles.
Explaining
life insurance
to French people
French people have a strong appetite
for life insurance but they generally find
it complicated and have a limited grasp
of how it works. Convinced that, as
market leader, we have a responsibility
to help people understand life insurance
better, in October 2010, we launched
an interactive video website at
www.toutsavoirsurlassurancevie.fr.
The aim is not to present our products
but simply to explain the utility of life
insurance at the major turning points
in life.
Six short films use the birth of a baby
named Louise to illustrate the lives
of six family members who represent
the very different saver profiles that can
be covered by the flexible terms of a life
insurance policy.
This is our first online campaign and also
the first time we have chosen to target
prospective customers by improving
their understanding of the product,
rather than by showcasing our products.
It nonetheless echoes the theme of our
traditional advertisements which, set to
Shostakovich’s Waltz No. 2, all take birth
as the starting point. There’s no better way
to illustrate how magical and precious life
is and how important it is to protect it.
CNP Assurances – The lifetime insurer l 2011 > 11
CNP ASSURANCES - SOLUTIONS
SAVING
FOR PEACE
OF MIND
You
Franck
and Marie
Perrault,
More than ever, French people
need to protect their future.
CNP Assurances is there to help,
with its life insurance contracts
and pension solutions.
50 years old
LIFE INSURANCE, THE UMBRELLA
SOLUTION
In 2010, 70% of French savings were invested in life
insurance. Over the years, life insurance has confirmed its role as the umbrella solution to all types of
savings needs, from putting money aside for a rainy
day and protecting the family from the consequences
of unforeseen events, to achieving capital growth,
saving for retirement, or optimising an inheritance.
Responding to these diverse needs, CNP Assurances
offers a wide variety of contracts for savers of all ages
covering the full spectrum of management styles, risk
appetites and saving objectives, all bearing the hallmarks of affordability, simplicity and transparency.
For example, it takes just €30 to set up a life insurance policy with the Caisses d’Epargne (Ricochet) and
La Banque Postale (Vivaccio), and the premium can
be as low as €30 per month.
INTERNATIONAL LIFE INSURANCE
Our international subsidiaries have demonstrated
their ability to adapt to the specific features of their
local markets. In Italy, CNP Vita’s offering includes
UniGarantito, launched in 2008, and UniOpportunità,
a traditional savings product with a 10-year yield guarantee and a unit-linked formula that was introduced
in early 2010.
12
Also in Italy, in 2010 CNP-BVP launched the Barclays
Life Investment Program, a flexible guaranteed-yield
savings product with a unit-linked formula. This innovative product with three investment options can be
adapted to all customer profiles and evolves in line
with market trends.
In Cyprus, CNP Marfin’s savings offer remains heavily
weighted towards unit-linked products.
PREPARING FOR RETIREMENT
French people are starting to prepare for retirement
increasingly early. CNP Assurances is there to help
them, with its life insurance contracts, individual pension contracts such as the Plan d’épargne retraite
populaire (PERP), and a full range of group plans
enabling companies to offer supplementary pension
benefits to their employees.
CNP Assurances is the unchallenged leader of the
group pensions market. Through its employee savings
plan management subsidiary, Fongépar, it is deploying its expertise in all product categories including
defined contribution and defined benefit plans, PERE
and PERCO corporate pension plans, early retirement
benefit plans and length-of-service award plans.
Life insurance
70%
of the French savings
market in 2010
(€130 billion, FFSA estimate
at end-2010)
The products
SAVINGS PRODUCTS
Product
Network
Type of contract
Product
Vivaccio
Traditional with
unit-linked formula
CNP Trésor Projets
et Génération
Network
Type of contract
Traditional with
unit-linked formula
Cachemire
Traditional with
unit-linked formula
CNP Trésor Performance
Traditional with
unit-linked formula
Toscane Vie
Traditional with
unit-linked formula
Trésor Capitalisation
Money purchase
Capiposte 3
Money purchase
Santé Vie Futur Plus
Traditional with
unit-linked formula
Nuances Privilège/Plus/3D/
Grenadine
Traditional with
unit-linked formula
CAPEOR 1er
Traditional with
unit-linked formula
Yoga
Traditional
CNP Patrimoine Liberté
Traditional with
unit-linked formula
Aïkido
Traditional with
unit-linked formula
Brazilian products
Ricochet
Traditional
Italian products
Livret Assurance Vie
Traditional
Spanish products
Capécureuil
Money purchase
Cypriot products
Nuances Capi
Money purchase
Portuguese products
Initiative Plus
Traditional
PENSION PRODUCTS
Product
Network
Type of contract
Product
Solesio Vie
Traditional with
unit-linked formula
Network
Type of contract
Perp Horizon Retraite
Traditional with
unit-linked formula
Solesio Perp Horizon
Points-based
Certival
Immediate annuity
Solesio Perp Evolution
Traditional with
unit-linked formula
Brazilian products
Viagérys
Immediate annuity
Italian products
PERP CE
Traditional with
unit-linked formula
Spanish products
Revenus Pluriel
Immediate annuity
Portuguese products
CNP Assurances – The lifetime insurer l 2011 > 13
CNP ASSURANCES - SOLUTIONS
INSURING AGAINST
THE UNEXPECTED
Personal risk insurance and term creditor insurance
both serve the same purpose: to protect the policyholder
against unexpected events and the risks of everyday life.
THE PERSONAL RISK OFFERING
Increasing uncertainty and growing awareness of the
post-war social model’s fragility are contributing to an
ever greater need for security and a surge in demand
for personal risk insurance.
With 13 million loans insured and a 36% share of
the market, CNP Assurances is France’s leading term
creditor insurance provider (source: Xerfi, Marché de
l’assurance emprunteur, April 2010).
CNP Assurances has developed a wide range of products to help policyholders to deal with life’s everyday
risks, including long-term care insurance, death insurance, funeral insurance, personal accident insurance
and health insurance.
The offer is distributed to home loan specialists, high
street banks, consumer finance companies and also to
non-profit lenders set up to support the social economy such as the CIL committees that collect and invest
the housing levy payable by companies under the government housing programme.
These products are sold in France by La Banque Postale
Prévoyance – a joint subsidiary of CNP Assurances and
La Banque Postale –, the Caisses d’Epargne, CNP Trésor
insurance advisors and mutual insurance partners.
In 2009, the total number of insurance contracts sold
by La Banque Postale Prévoyance crossed the two
million mark. The network’s comprehensive product
line-up offers reasonably priced coverage of a broad
spectrum of everyday risks for policyholders of all
ages according to their needs.
The Caisses d’Epargne have been gradually expanding
their offer, with the latest addition – Ecureuil Solutions
Obsèques funeral insurance – introduced in 2010.
The pioneer and market leader in long-term care
insurance, CNP Assurances has created products for
its partners that address not only the financial needs
arising from total and partial dependence, but also
the need for assistance in performing day-to-day tasks
and support for carers.
It is playing a leading role in making long-term care
insurance more affordable. Since January 2010, it has
acted as reinsurer for a new total loss of autonomy
benefit included in the health insurance policies covering two million MGEN policyholders.
14
TERM CREDITOR INSURANCE
2010 was a successful year on the marketing front, with
CNP Assurances submitting the winning bids to write
term creditor insurance for two social economy nonprofits (CIL Logilia and CIL Procilia), Crédit Municipal
de Marseille and Barclays Bank France, for the bank’s
high-end customers.
These successes have strengthened our position in a
market opened up by the 1 July 2010 consumer credit
act («Lagarde Act»). The market has been won over by
our expertise, but also by our vision of term creditor
insurance which we consider should not be just a means
to an end but a real source of protection for borrowers
against the consequences of unforeseen events.
Launched in November 2008 for home buyers taking
out a loan with Crédit Immobilier de France, Protection
Active Emploi unemployment cover embodies this
approach. In the case of redundancy, instead of just
covering part of the insureds’ loan repayments, we
actively help them to find another job.
INTERNATIONAL TERM CREDITOR
INSURANCE
We also write term creditor insurance outside France,
in particular through our subsidiaries in Latin America
and Southern Europe. In Brazil, Caixa Seguros is
ranked no. 1 in this segment, with over 60% of the
market. Demand is very strong and the business grew
by over 20% in 2010.
5.5 million
French people are
covered by a long-term
care insurance policy
(FFSA, April 2010)
The products
PERSONAL RISK INSURANCE
Product
Network
Accident, death, etc.
Sérénia/Séralys/Prémunys/Avisys/Forfaitys/
Futurys
vous
Résolys Financement & Résolys Prestations
Florence
Billon,
Garantie Famille & Garantie Urgence
Écureuil Solutions Obsèques
and Adrien,
2 years old
Trésor Prévoyance Comptavie
Trésor Prévoyance Assuravie
Trésor Prévoyance Obsèques
Brazilian products
TERM CREDITOR INSURANCE
Italian products
Product
Cypriot products
Banking network group contracts
Long-term care insurance
Mutual insurer group contracts
Protectys
Brazilian products
Quiétude Autonomie
Italian products
Ecureuil Assistance Vie
European products
Network
CNP Assurances
under EU freedom
of services directive
Trésor Prévoyance Garantie Autonomie
CNP Trésor Autonomie
Group contracts distributed by mutual insurers,
companies, local governments and non-profits
Health insurance
PROPERTY AND CASUALTY
Product
Network
Complétys
Brazilian products
Group contracts distributed by mutual insurers,
companies, local governments and non-profits
Cypriot products
CNP Assurances – The lifetime insurer l 2011 > 15
Between you
and us A sustainable
relationship
You
Robin
Andersen,
years old,
Retired
Us
Lysiane
Moreau,
61 years old,
Actuary
CNP ASSURANCES - OUR COMMITMENTS
COMMITMENTS
AND COMMUNITY
OUTREACH
You
Madeleine
Vallier,
For CNP Assurances, business
success must be matched by
an equally strong sustainable
development performance.
A philosophy that underpins
everything we do.
87 years old, and
Julien,
23 years old
As a responsible insurer, investor and
employer, we do our utmost to simultaneously uphold the three pillars
of sustainable development, Planet,
Profit, People.
In a commitment to responsible corporate citizenship, we have supported
the United Nations Global Compact
since 2003.
A RESPONSIBLE INSURER
Because policyholders entrust us with protecting themselves and their families, the primary value-added
delivered by CNP Assurances is trust. We do everything
in our power to deserve that trust by offering products
geared to all types of needs, managing our portfolio
very conservatively to shelter savers from turbulent
financial markets and adhering to the highest ethical
standards at each stage in the insurance process.
18
We are convinced that everyone should have access
to insurance, because it helps to reduce social vulnerability and, for this reason, we work hard to offer
affordable products and limit the cases where cover
is denied.
A RESPONSIBLE INVESTOR
We pledged support for the UN Global Compact in
2003 and we actively encourage our two main asset
managers, Natixis Asset Management and La Banque
Postale Asset Management, to develop best-in-class
socially responsible investing (SRI) strategies. Our
equity and bond portfolios are systematically screened
based on environmental, social and governance (ESG)
criteria. The aim is to extend ESG screening to the
entire equity portfolio and to all other assets held by
CNP Assurances.
In 2010, ESG screens were used in managing some
55% of assets.
A SOCIALLY-RESPONSIBLE EMPLOYER
THE FIRST CARBON FOOTPRINT AUDIT
At CNP Assurances, diversity is perceived as an asset
and a business performance enabler. We believe that it
is only by reflecting the society around us that we can
understand that society’s needs.
2010 was an important year for our sustainable development policy, with the completion of our first Bilan
Carbone® carbon footprint audit, two years ahead of
the deadline set for large companies in France.
Diversity has been a pillar of our human resources
strategy since 1995, when we first committed to hiring the disabled, and we now have one of the highest
percentages of disabled employees among French
companies (5.38%).
Conducted in accordance with the method certified by
France’s Environment and Energy Management Agency
(ADEME), the audit measured all emissions related to
company operations so that short and medium-term
action plans could be introduced.
An important milestone was crossed in
January 2009, when CNP Assurances
became one of the first seven French
companies to receive the Seal of
Diversity awarded by a panel comprising representatives of the French
State, the trade unions and the National Association
of Human Resources Managers (ANDRH). The award
recognises not only a company’s achievements but also
its commitment to pursuing the improvement process
under the supervision of the certification body, Afnor.
The targets set for 2011 based on the audit’s results
reflect our current focus on reducing the impact of
business travel through increased use of videoconferencing and the introduction of a travel policy that
encourages employees to take the train rather than
the plane.
A Foundation for life
Since 1993, the CNP Assurances Foundation has
conducted community outreach initiatives in the area
of healthcare, a field that is naturally aligned with our
mission as a personal insurer. In the past fifteen years,
the Foundation has solicited projects from medical
teams and non-profit organisations that can improve
pain management techniques for children, adults and
seniors. Since it was set up, the Foundation has donated
more than €6.6 million in grants to over 180 projects.
In 2009, the Foundation launched a new set of initiatives
to improve the assistance given to heart attack victims.
Every year, more than 40,000 people in France die
of cardiac arrest outside of hospitals. In two years,
the Foundation has provided €802,000 in grants to
deploy 1,500 defibrillators and train users in 878 local
communities. The partnership with RMC-BFM
A PRIZE-WINNING MEDICAL FILM, “UN GESTE POUR LA VIE”
The CNP Assurances Foundation produced a film entitled Un geste pour
la Vie that presents life-saving techniques to be applied in the event of a
heart attack. The film received the Grand Prize at the 2010 Medical Film
Awards held during the Entretiens de Bichat medical convention.
Association was renewed in 2010 and supported by
a new campaign to raise awareness of the programme.
The campaign included a public information film
screened on TV and a “Lifesavers’ Tour” of France’s
beaches, to show the public what to do to help a heart
attack victim.
CNP Assurances – The lifetime insurer l 2011 > 19
CNP ASSURANCES - OUR COMMITMENTS
A RESULTS¯DRIVEN
APPROACH
CNP Assurances’s advances in the area of sustainable development
are tracked each year based on a set of indicators organised
by stakeholder group.
When it comes to sustainable development, CNP
Assurances is committed to “walking the talk”.
However, the road to improvement needs a clearly
identified starting point, precise objectives and a set
of indicators to measure the progress made. The indicators for each stakeholder group are as follows:
• Employees and employee representatives:
workforce structure; use of outside contractors;
workforce planning; organisation of working hours;
health and safety; remuneration; career development; employee dialogue; equal opportunity.
• Policyholders and distribution partners: policyholder satisfaction; environmentally and socially
responsible products and services.
• Suppliers: respect for human rights and international labour and environmental laws.
• Investment counterparties: meeting financial commitments; acting as a responsible investor and a
responsible shareholder.
• The community: fighting corruption and money
laundering; community outreach.
Sustainable
development
indicators in
digital format
The CNP Assurances group’s
sustainable development
indicators are provided
in digital format only,
so as to limit paper use.
20
• Shareholders: corporate governance; share ownership structure.
• Environment: paper use; videoconferencing and
business travel; building management; waste
management.
AN EXPANDED REPORTING SCOPE
The reporting scope is broadened each year. In France,
it covers CNP Assurances, CNP IAM, Préviposte, ITV,
CNP International, CNP Caution and Fongépar.
The international reporting scope covers all fullyconsolidated subsidiaries (on a 100%-basis) – CNP
Vida (Spain), CNP Seguros de Vida (Argentina), Caixa
Seguros (Brazil), CNP UniCredit Vita (Italy), Marfin
Insurance Holding (Cyprus/Greece), CNP Europe Life
(Ireland), and BVP (Spain) and their consolidated
subsidiaries.
We provide 40 pages
of indicators, with three
years’ data, analysed
by stakeholder group.
They are available on
request from the Company
on CD-Rom and can also
be downloaded from the
CNP Assurances website,
www.cnp.fr.
- The Business Review and Sustainable Development Report (1)
- The corporate brochure “The lifetime insurer” (2)
- The Shareholders’ Guide (3)
- The Registration Document (4)
- The Shareholders Quarterly Newsletter (5)
The 2010 editions are also available on CD-Rom and can
be downloaded from the Company’s websites www.cnp.fr
or www.cnp-finances.fr
These documents are available on request from
CNP Assurances:
1
2
This website has dedicated sections for private
shareholders and for investors and analysts.
Financial information
at www.cnp-finances.fr
Visit the CNP Assurances website to learn more about
our subsidiaries and businesses, read the latest news
and discover our advertising campaigns.
On-line information
at www.cnp.fr
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4
CNP Assurances – The lifetime insurer l 2011 > 21
3
A CNP Trésor section of the www.cnp.fr website
presents its products and services.
CNP Trésor made easy
Website: www.cnp-lecercle.fr
Toll-free number (in France):
Spaces dedicated to shareholders
FIND OUT MORE
ABOUT CNP ASSURANCES
CNP Assurances is a société anonyme (public limited company)
incorporated in France with fully paid-up share capital of €594,151,292.
Registered office: 4, place Raoul Dautry, 75716 Paris Cedex 15
Registration number: 341 737 062 RCS Paris
Governed by the French Insurance Code
Website: www.cnp.fr
- Photo credits: Kajetan Kandler (Outside and inside covers), Plainpicture (p. 7, 12 et 18), Tendance Floue/Meyer (p.4 et 15),
June 2011 - CNP Assurances/2011/Brochure2011/VA/F3 - Design and production:
Philippe Pérez Castano (p. 7) – Printed on paper from sustainably managed forests.